63 Borrowdale Road, Middleton, Manchester, M24 5QR

Description

A two bedroom ground floor flat. The property forms part of a purpose built block. In need of modernisation. Vacant.

Accommodation

Ground Floor - Entrance Hallway, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.

Location

Middleton is a town in the Metropolitan Borough of Rochdale, Greater Manchester. Located on the south side of Borrowdale Road. Local amenities and shops are available along Wood Street. Recreational amenities are easily accessible such as Tuffet Park or the North Manchester Golf Club. Transport links via Mills Hill station and easy access to the M60 and M62. Transport Mills Hill - northern.

Tenure / Property Information

Investment Analysis

The strongest evidence is the completed sale of 63B Borrowdale Road for £82,500 on 24 April 2026. An older sale on the same road was £76,000 in September 2021. These provide an indicative value range, but the evidence does not confirm that 63B is identical in condition, size, lease terms or service-charge position to the subject flat. The subject also requires modernisation and has very high current service charges of approximately £301.34 per month, including a sinking-fund contribution. A base GDV of £82,500 is therefore used cautiously, with £76,000 as a lower evidence-supported scenario. No higher completed-sale evidence was supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming the new lease terms and investigating the service-charge and planned-works position. Obtain a detailed refurbishment quotation and local rental evidence before bidding. Do not rely on the guide-to-GDV spread alone.

Works Required

Modernisation of the flat as supported by the description, potentially including updating the kitchen, bathroom, decoration, flooring and general finishes. The extent and cost of works cannot be quantified without a schedule, inspection or contractor quotations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide price, the indicative 75% refinance amount against the £82,500 base GDV is £61,875. However, refurbishment costs, buyer costs, finance costs and the full lease/service-charge position are unknown, so cash required and refinance equity cannot be established. The high service charge reduces the attractiveness of the strategy.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate was supplied. The approximately £301.34 monthly service charge equates to about £3,616.08 per year before any other ownership, finance, management or maintenance costs, materially affecting net returns.

Flip Analysis

A sale at the indicative £82,500 base GDV could provide gross value uplift from the £40,000 guide, but refurbishment costs, purchase costs, finance costs, selling costs and the actual achieved resale value are unknown. A reliable flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• Very high service charges of approximately £301.34 per month, including a contribution to a sinking fund for planned future works.

• The property is described as requiring modernisation, but the scope and cost of works are unknown.

• No sufficiently specific rental evidence was supplied, so rental yield cannot be established.

• The new 999-year lease terms and other legal-pack details require verification.

• The comparable sale may not match the subject flat in condition, specification, lease terms or service-charge liability.

Recommendation

Proceed only after reviewing the legal pack, confirming the new lease terms and investigating the service-charge and planned-works position. Obtain a detailed refurbishment quotation and local rental evidence before bidding. Do not rely on the guide-to-GDV spread alone.

Strategy Rating

Analysis Confidence

There is a recent same-road completed sale and an older comparable, but no rental evidence, refurbishment budget, buyer fees, selling allowance, detailed lease information or confirmation that the comparable matches the subject property.